IShares Core Correlations

IBC3 Etf

EUR 5.68 0.02 0.35%

The correlation of IShares Core is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

IShares Core Correlation With Market

Poor diversification

The correlation between iShares Core MSCI and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Core MSCI and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IShares Core could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IShares Core when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back IShares Core - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling iShares Core MSCI to buy it.

Moving together with IShares Etf

0.98	IS3N	iShares Core MSCI	Pair Corr
1.0	IQQE	iShares MSCI EM	Pair Corr
0.95	VFEM	Vanguard FTSE Emerging	Pair Corr
0.93	VFEA	Vanguard FTSE Emerging	Pair Corr
0.97	UIMI	UBS Fund Solutions	Pair Corr
0.96	EUNZ	iShares Edge MSCI	Pair Corr
0.96	EUNY	iShares Emerging Market	Pair Corr
0.99	QDVS	iShares MSCI EM	Pair Corr
1.0	EDM2	Ishares Iv Plc	Pair Corr
0.74	LYBK	Lyxor UCITS Stoxx	Pair Corr
0.73	EXX1	iShares EURO STOXX	Pair Corr
0.74	EXX1	iShares EURO STOXX	Pair Corr
0.76	S7XE	Invesco EURO STOXX	Pair Corr
0.81	EXV1	iShares STOXX Europe	Pair Corr
0.78	SC0U	Invesco Markets plc	Pair Corr
0.97	AMEE	Amundi ETF MSCI	Pair Corr
0.86	ETLX	LG Gold Mining	Pair Corr
0.86	UBUD	UBS ETF Public	Pair Corr
0.88	ETLX	LG Gold Mining	Pair Corr
0.9	DVDG	Franklin Global Quality	Pair Corr
0.71	EL4T	Deka Deutsche Brse	Pair Corr
0.75	GSXG	Goldman Sachs Global	Pair Corr
0.97	DBX8	Xtrackers MSCI	Pair Corr
0.88	SLMB	iShares IV Public	Pair Corr
0.67	IUS2	iShares SP Banks	Pair Corr
0.89	CHSR	UBSFund Solutions MSCI	Pair Corr
0.91	XESC	Xtrackers EURO STOXX	Pair Corr
0.86	SPYY	SSgA SPDR ETFs	Pair Corr
0.89	IUS4	iShares III Public	Pair Corr
0.98	PRAM	Amundi Prime Emerging	Pair Corr
0.84	36BZ	iShares MSCI China	Pair Corr
0.91	VALD	BNP Paribas Easy	Pair Corr
0.8	DBXR	Xtrackers II	Pair Corr
0.94	T3MP	JPMorgan ETFs ICAV	Pair Corr
0.97	VGEK	Vanguard FTSE Developed	Pair Corr
0.86	XDEW	Xtrackers Public	Pair Corr
0.74	VGEA	Vanguard EUR Eurozone	Pair Corr

Related Correlations Analysis

	VGWL	ICGA	XMME	L0CK	AYEP	QDVX	CBUF
VGWL		0.19	0.86	-0.14	0.78	0.8	0.49	VGWL
ICGA	0.19		0.01	0.49	-0.01	-0.14	0.37	ICGA
XMME	0.86	0.01		-0.51	0.91	0.86	0.41	XMME
L0CK	-0.14	0.49	-0.51		-0.52	-0.41	0.06	L0CK
AYEP	0.78	-0.01	0.91	-0.52		0.89	0.47	AYEP
QDVX	0.8	-0.14	0.86	-0.41	0.89		0.32	QDVX
CBUF	0.49	0.37	0.41	0.06	0.47	0.32		CBUF
	VGWL	ICGA	XMME	L0CK	AYEP	QDVX	CBUF

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

AYEP	+ 0.91	XMME
QDVX	+ 0.89	AYEP
XMME	+ 0.86	VGWL
QDVX	+ 0.86	XMME
QDVX	+ 0.8	VGWL
AYEP	+ 0.78	VGWL

High negative correlations

AYEP	- 0.52	L0CK
L0CK	- 0.51	XMME
QDVX	- 0.41	L0CK
QDVX	- 0.14	ICGA
L0CK	- 0.14	VGWL
AYEP	- 0.01	ICGA

IShares Core Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Core ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze IShares Core's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
VGWL	0.49	0.00	(0.03)	0.03	0.76	(0.45)	1.23	(1.14)	2.97
ICGA	0.86	(0.09)	0.00	9.32	0.00	0.00	1.69	(2.06)	4.95
XMME	0.66	0.12	0.13	0.42	0.57	(0.79)	1.47	(1.12)	4.29
L0CK	0.91	(0.13)	0.00	(0.43)	0.00	0.00	2.05	(2.40)	6.70
AYEP	0.53	0.06	0.03	0.47	0.59	(0.65)	1.27	(0.85)	2.97
QDVX	0.45	0.04	0.02	0.21	0.47	(0.52)	0.95	(0.91)	2.26
CBUF	0.59	0.02	(0.02)	0.80	0.75	(0.62)	1.34	(1.46)	4.09

Be your own money manager

Our tools can tell you how much better you can do entering a position in IShares Core without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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